23 January 2026
RICS has reviewed the PRA/BoE final rules on the implementation of Basel 3.1 (PS1/26) contained at: https://www.bankofengland.co.uk/prudential-regulation/publication/2026/january/implementation-of-the-basel-3-1-final-rules-policy-statement.
We are of the opinion that these final rules do not change the role or responsibilities of RICS valuers in the UK. Valuers providing Market Value assessments for secured lending should continue to follow the RICS Valuation – Global Standards (Red Book).
As before, reliance on professional Market Values at origination remains the cornerstone of the framework, and lenders are expected to continue monitoring market conditions. In summary, RICS advice to members remains unchanged following the publication of the PRA/BoE final rules.